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Over the past day, the Bitcoin exchange rate rose to $ 10,500, the price increased by 42%

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A few days ago, the BTC rate plummeted from about $ 8,000 to $ 7,500, however, over the past 24 hours, the cost of the flagship cryptocurrency has shown incredible growth – the price reached the level of $ 10,500, adding to the cost of 42%.

Following BTC, altcoin indicators also increased, in particular, Ethereum, Bitcoin Cash, Litecoin, EOS, Bitcoin SV managed to recover – over the past 24 hours their rate has grown by 10-20%. Well-known analyst Alex Krueger draws attention to the fact that this is the 4th largest price movement of cryptocurrency in daily profitability. The analyst believes that such a sharp increase in value is caused by fundamental factors, in particular, a statement by Xi Jinping, the head of the PRC, in which he unequivocally supported the development of the blockchain industry.

Meanwhile, Nick Carter, co-founder of Coin Metrics, noted that closing the daily candle at $ 10,000 would mark the third most profitable day in BTC history. The first two rallies were 54% and 48% in 2010 and 2011, respectively. In the first case, the value of the coin was $ 0.40, in the second case – $ 5.65.

Against the backdrop of recent events, Edward Snowden recalled on his Twitter blog about the forecast of an anonymous analyst, according to which the BTC rate could increase to $ 16,000 in October.

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Robert Kiyosaki: Bitcoin will be the future of finance, unlike real estate and gold

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Robert Kiyosaki, author of the best-selling book Rich Dad, Poor Dad, said real estate and gold investments cannot be the future of finance, as cryptocurrency has come into the spotlight. The entrepreneur, who several times this year called the ideal investment portfolio to invest in gold, real estate and bitcoin, now believes that only cryptocurrency will strategically win.

In an interview with Anthony Pompliano, managing partner of cryptocurrency investment company Morgan Creek Capital, Kiyosaki said that you really need to look “beyond the horizon” of the current financial situation. He admitted that it was not easy for him to understand the phenomenon of cryptocurrencies, but nevertheless he made an effort, conducted an analysis and made certain conclusions.

According to Kiyosaki, bitcoin will reach the level of 75 thousand dollars within three years.

“It is very important to understand how cryptocurrencies work, as the financial world is already starting to change. Those investors who will continue to rely on gold and real estate will find themselves outside the main changes in the sphere of global finance. ”

The entrepreneur made his forecast while on July 9 a troy ounce of gold reached almost a 9-year high (about $ 1800), if we do not take into account the accumulated inflation in the US dollar.

Meanwhile, the precious metal has not reached the historical maximum of 2011, since for this formally a troy ounce it is necessary to rise above $ 1900, but in fact – it is sure to overcome the mark of $ 2050, given the accumulated devaluation in the US currency.

Recall that entrepreneur Kim Dotkom and billionaire Mike Novogratz declared their investment preferences in the form of gold and cryptocurrencies .

Date of publication 07.15.2020
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CME has published specifications for upcoming Bitcoin options

The Chicago Mercantile Exchange (CME Group) introduced specifications for bitcoin options, the launch of which is expected in the first quarter of 2020. Get ready for the launch of options on Bitcoin futures in Q1 2020. See contract specifications now: https://t.co/iI1Yi0csGW pic.twitter.com/4UPH5kKsHH – CMEGroup (@CMEGroup) October 30, 2019 The site says that new instruments will be calculated and based on CME CF Bitcoin […]

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The Chicago Mercantile Exchange (CME Group) introduced specifications for bitcoin options, the launch of which is expected in the first quarter of 2020.

The site says that the new tools will be calculated and based on the CME CF Bitcoin Reference Rate ( BRR ) – the reference bitcoin rate against the US dollar, compiled according to the spot exchanges Bitstamp, Coinbase, itBit, Kraken and Gemini.

As well as for futures, 1 contract will correspond to 5 BTC. Options will be of European type – unlike American ones, they cannot be exercised until the end of the validity (maturity). The minimum price step is 5 index points, corresponding to $ 25.

“We are working on the launch of options based on existing futures ,” said Tim McCourt, Managing Director of CME. – Such options for bitcoin futures can be of two main types – call and put. They imply the right, but not the obligation, to respectively buy or sell the underlying contracts at the end of their term.

According to McCourt, the expiration period of the options will coincide with the expiration of the underlying monthly bitcoin futures. The hours of trading options and futures will be similar.

However, before launching the tools, some of the specifications may change. Now CME Group is coordinating a new tool with regulators. Apparently, the exact option launch date depends on the latter.

Earlier, BlockchainJournal reported that earlier CME will launch the bitcoin options regulated platform Bakkt .

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Peter Schiff: “Crypto whales” get rich with the help of small holders of Bitcoin

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Peter Schiff, managing director of Euro Pacific Capital, believes that large cryptocurrency holders, commonly called “whales,” earn money from small investors.

Schiff wrote on his Twitter blog that the scammers, that is, retail investors, basically refuse to part with their Bitcoin savings, regardless of the cryptocurrency rate. They do not want to sell their savings now because they believe that they will be able to make large profits when the price of BTC reaches a new historic high. At the same time, Schiff explains that the “whales”, on the contrary, are selling their savings right now in order to get a good income and to benefit from the volatility of the BTC before the market collapses. In addition, the analyst wrote that the whales need confirmation that the scammers do not lose faith and do not seek to cash out in order to be able to profit.

Peter Schiff is known in the crypto community for his predictions about the decline in the value of Bitcoin to the level of $ 2,000. In addition, Schiff is known to many as an active supporter of gold. He believes that only this asset deserves attention and is the safest. In addition, in his opinion, it can serve as a refuge during the economic crisis.

Schiff said the BTC is a bubble the other day, as part of the Off the Chain podcast. He compared the mood in the crypto market with the situation that prevailed in the real estate and stock market in 2005-2006. He also asked not to call him “BTC haters” since in reality he had “nothing” to hate.

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Name Price24H (%)
Bitcoin (BTC)
$37,528.00
-4.14%
Ethereum (ETH)
$1,223.38
2.58%
Tether (USDT)
$1.00
-0.59%
XRP (XRP)
$0.287192
-3.53%
Litecoin (LTC)
$149.82
-1.16%
Cardano (ADA)
$0.317170
0.83%
Bitcoin Cash (BCH)
$506.99
-1.68%
Stellar (XLM)
$0.293991
-2.87%
Monero (XMR)
$162.47
-1.97%
EOS (EOS)
$2.85
3.28%
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